Former NBC and Sony BMG executive Andrew Lack has been named CEO of Bloomberg L.P.’s new multimedia group.
The choice of Mr. Lack, an award-winning news executive at CBS and NBC before taking on broader management roles, reflects Bloomberg’s desire to emphasize its media offerings as it grows beyond its financial data and wire service roots.
“These turbulent times create huge demand for our products. While other news organizations are shrinking, we continue to expand, improving our existing products while investing in new ones,” Bloomberg Chairman Peter Grauer said in an announcement Tuesday.
“Andy Lack is a news legend,” Bloomberg LP President Dan Doctoroff said in the announcement. “His extraordinary accomplishments at NBC and CBS News and his innovative work in the entertainment industry at Sony Corp. qualify him uniquely to lead Bloomberg’s multimedia businesses.”
Mr. Lack will work closely with Bloomberg News founder and editor-in-chief Matthew Winkler and chief content officer Norman Pearlstine. He will report to Mr. Doctoroff, as do Mr. Winkler and Mr. Pearlstine.
“Bloomberg–unburdened by outdated business models–has the opportunity to redefine the 21st century news organization, fully integrating our wire service, television, online, radio and mobile operations,” Mr. Doctoroff said.
The multimedia group was created in July following a major reorganization of Bloomberg L.P. Mr. Winkler will continue to head the news group, which includes the wire service that reaches nearly 300,000 professional investors. Mr. Pearlstine is the liaison between the news and multimedia groups.
Mr. Lack first made his name at CBS News, where he created and served as the executive producer of “West 57th.” He worked as a “60 Minutes” producer and senior executive producer of the landmark CBS Reports for nearly a decade.
Mr. Lack most recently was chairman of Sony BMG Music Entertainment. He had been president of NBC News from 1993 to 2001, a period during which he launched MSNBC and saw his division’s daily news programs become No. 1 in their categories.
(Editor: Baumann)